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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (18730)	4/10/1998 7:28:00 PM
From: Broken_Clock	Respond to of 95453

OT Nimrod & his Mom back in Babylon. Recomended reading is an obscure book called"The Two Babylons" for the full story.

To: waverider who wrote (18730)	4/10/1998 8:23:00 PM
From: Timelord	Read Replies (1) \| Respond to of 95453

Personally, I don't see anything in the Simmons report that says run for the hills. In fact, I see it as kind of encouraging in that dayrates are correcting slightly vs. plummeting; the softness is confined to a few types of rig, and not widespread; and it is predicted to be of short duration, maybe two months, maybe six months, nobody knows for sure. There may be some fallout from this on Monday from the same investors who seem to think gas prices directly impact the bottom line on a dollar for dollar basis, but I doubt this will last long and I'm sure there will by some nice earnings surprises to counteract that. Further, without knowing the original Simmons estimates for ESV, it's hard to evaluate their .21 and .37 downward revision for '98 & '99. According to the First Call report updated yesterday, 25 brokers have a '98 mean of 2.55, with a range of 2.40-3.00 (now there's a BIG dart board!), and '99 comes in at 3.16 mean, with ranges from 2.84 to 3.50. If Simmons was on the high end of those numbers, the revision only brings the "guesses" down to the mean. Alex Aw, the heck with it "We're doomed!!" <g> PPS: My SI name is changed since I got tired of having my ravings linked by every search engine in the world (gotta watch what you say!)